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ICE canola futures rise, following spike in soyoil, crude

Published 2020-10-05, 03:07 p/m
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(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, Oct 5 (Reuters) - ICE (NYSE:ICE) canola futures rose on Monday, following soyoil and crude oil higher.

* Soyoil jumped as investors who had shorted it locked in profits by buying soyoil as crude oil prices surged, a broker said, adding that canola's gains were pared by the advancing Canadian harvest adding supplies to the market.

* November canola RSX0 added $3.30 to $520.40 per tonne.

* November-January canola spread traded 3,052 times.

* Euronext November rapeseed futures /COMX0 and Malaysian December palm oil futures /FCPOZ0 edged higher.

* Consultancy Strategie Grains expects sowing for the 2021 rapeseed crop in the European Union and Britain to be slightly lower compared with this year's harvest.

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